Hen

rico

Cou

nty

Fina

nce

Dep

artm

ent

Rea

l Est

ate

Div

isio

nP.

O. B

ox 9

0775

Hen

rico,

VA

2327

3-07

75

PRSR

T ST

DU

S P

OST

AG

EPA

IDR

ICH

MO

ND

VA

PER

MIT

NO

138

0

Henrico County Finance DepartmentReal Estate Division

P.O. Box 90775Henrico, VA 23273-0775

henrico.us/finance(804) 501-4300

Revised by Public Relations & Media Services, 04/19.

Your Business Is Your Most

Valuable Asset. Is It Time To Reinvest?

Reinvest: Commercial

Investment Tax Abatement Program

What is the Reinvest Program?

Commercial Reinvest is a seven-year partial tax exemption for commercial real estate, applying to improved buildings that increase in assessment by 40 percent or more. The rehabilitated structure can be for any purpose, including mixed use, that is allowed by building code and applicable zoning. In addition, exterior corridor hotels can receive a 15-year exemption if demol-ished and replaced by any other struc-ture. The program is designed to maintain Henrico County as an appealing place for existing and future businesses to invest.

What is the tax exemption?

The added assessed value of the improvement, renovation or addition will be tax-free for seven years. This means that when assessing your commercial property for real estate tax purposes, the county will not tax the improvement, even though it will increase the assessed value of the structure.

Is there a fee to apply?

A one-time, non-refundable $50 processing fee must accompany your application.

How can I apply?

Download the Reinvest Program application at henrico.us/finance (follow the link for Real Estate Division, then click on the application link), complete it and return to the Real Estate Division.

Call (804) 501-4300 for more information.

NOTE: This application should be filed with the Real Estate Division before or at the same time as the building permit application.

Reinvest: Commercial Investment Tax Abatement Program